Singapore's sovereign wealth fund manager, Temasek Holdings Pte, had just recently increased its exposure in Industrial and Commercial Bank of China Ltd. With the shareholdings increase, Temasek adds ICBC to the asset base of the the fund, particularly state controlled lenders.
Temasek purchased 126 million shares at HK$4,602 each share or a total investment of HK$580 million or US$75 million. This purchase was confirmed through a statement made to the Hong Kong Stock Exchange. The purchase increased Temasek's holdings in the Hong Kong shares of ICBC from 7.92% to 8.07%, as confirmed by Stephen Forshaw, spokesman for the Singaporean sovereign wealth fund management firm.......................................Full Article: Source